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Dec 4, 2012
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you go with the citi, with jpmorgan? >> citigroup, jpmorgan, bank of america would be another. also some regionals, sun trust, regions financial. those banks will do very well. the toll brother numbers today, housing is very positive. >> some of the names like boa have had good years. since '91 it's had a year like this. doesn't that connote it may be petter than we think? >> the banks had a good year. an awful year last year as you know. valuations on price to book basis is attractive. and so to us they're trading as a group. we think eventually they get to 1 1/2 times book. that's the kind of upside. normalized earnings hopefully will materialize in 2014 and the upside for the banks is still very good. >> if we go over the cliff, is that mostly a loan growth issue? is it a net interest margin issue? what would hurt them the most? >> credit would stop improving and that's been a huge positive. the results showed today credit improved again. so i think credit would be the number one issue. it wouldn't continue to improve. second, you touched on it. the net interest margin. rate
you go with the citi, with jpmorgan? >> citigroup, jpmorgan, bank of america would be another. also some regionals, sun trust, regions financial. those banks will do very well. the toll brother numbers today, housing is very positive. >> some of the names like boa have had good years. since '91 it's had a year like this. doesn't that connote it may be petter than we think? >> the banks had a good year. an awful year last year as you know. valuations on price to book basis is...
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Dec 18, 2012
12/12
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>> for citi, that's a good point. citi is not constrained to the united states. half of citi corp's revenues come in emerging markets. which growth may be slowing. it's an advantage i think inherent in the model. >> jason, i'm curious, your-very familiar with how the group trades. what happens to this group which has been on a massive run? what happens to the group should a fiscal cliff deal be reached? is it a news event for financials or will they rally? >> i think initially you probably get the rally. clearly they sold off post-the election on concerns, you know, when the fiscal cliff came to the forefront. now that talks are closer to a resolution, they're getting a lift. i expect to see a lift. there are still structural long-term issues that probably don't get decided in this round of negotiations that could weigh on the economy longer term. >> jason, we'll leave it there. good to see you. jason goldberg at barclays. >> kent kelly has details on insider trading. stick around to see who made greenberg's list of the worst ceos of 2012. as we go to break, we'l
>> for citi, that's a good point. citi is not constrained to the united states. half of citi corp's revenues come in emerging markets. which growth may be slowing. it's an advantage i think inherent in the model. >> jason, i'm curious, your-very familiar with how the group trades. what happens to this group which has been on a massive run? what happens to the group should a fiscal cliff deal be reached? is it a news event for financials or will they rally? >> i think initially...
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Dec 12, 2012
12/12
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sin city has fallen by a third for marriage as other cities like new york have become the place for quickie weddings. las vegas is hoping that 12-12-12 will bring in a huge number of couples looking to get hitched. 12 does denote love. >> the number 12? >> yes, just like 8 is good luck. >> riachel in laughlin has an estimate out this year that they could lose more attendees there for conventions. things are deteriorating. >> tonight on fast? >> we've got jon hilsenrath of the "the wall street journal" to help us sort out what dben bernanke is xwg to say today. and danny meyer from union square hospitality to talk about restaurant groups. >> i smell cooking segment. >> i hope so. >> see you a little later. big afternoon shaping up. if you just joined us, here's what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> jp morgan is going to be fine. i'm not worried about jp morgan and the customers for united states of america and the global financial system. you must be opaque. you must go back to greenspan speak and say, lis
sin city has fallen by a third for marriage as other cities like new york have become the place for quickie weddings. las vegas is hoping that 12-12-12 will bring in a huge number of couples looking to get hitched. 12 does denote love. >> the number 12? >> yes, just like 8 is good luck. >> riachel in laughlin has an estimate out this year that they could lose more attendees there for conventions. things are deteriorating. >> tonight on fast? >> we've got jon...
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Dec 7, 2012
12/12
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> marijuana possession becoming legal under washington state law on thursday. for those who are 21 and older. as marijuana legalization supporters rejoice, marijuana still remains illegal under federal law of course and the white house is weighing the response of federal law enforcement on that front. steve fox is director of state campaigns and government relations for the marijuana policy project. he joins us this morning from washington. steve, good morning to you. >> good morning. thanks for having me. >> just so i know, are you high right now? we've had some people on television the last couple of days on various channels who admit not to be. >> right. i'm not. are you drunk? >> fair enough. i want to know where we're headed.
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> marijuana possession becoming legal under washington state law on thursday. for those who are 21 and older. as marijuana legalization supporters rejoice,...
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Dec 17, 2012
12/12
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. we've decided to we're all having such a great year in the gulf, put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. so come to the gulf, you'll have a great time. especially in alabama. you mean mississippi. that's florida. say louisiana or there's no dessert. brought to you by bp and all of us who call the gulf home. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. we've decided to we're all having such a great year in the gulf, put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even...
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Dec 6, 2012
12/12
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break grouped on three new locations here in the city. he'll join us live next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from yo
break grouped on three new locations here in the city. he'll join us live next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are...
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Dec 5, 2012
12/12
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interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group would slim down by half. interesting that they are cutting a big chunk of that group. global consumer banking is responsible for 35% of the cuts and then going on through the other business lines like citi holdings, those are responsible for smaller portion of those jobs. citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this ba
interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group...
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Dec 26, 2012
12/12
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it definitely rebounded. >> at the same time, david, some of the cities that had, you know, fair to best during the downturn are now showing some weakness, chicago and new york, the only two cities with negative returns in the month of october. what's going on in those two markets? >> well, i think the first thing to recognize is what you pointed out. they didn't have the incredible boom going on. so they've been a lot more classic. those are markets where i think there are some other concerns related to local economic base. new york is highly dependent on financial services. and financial services, despite the stock market, have not been doing as well as they might. and have seen a lot of slowness. and rumors of layoffs. so there are areas that are a bit weak. even with those, i think on a national basis housing continues to be very solid. >> would you anticipate, david, seeing any sort of impact in sort of a higher income areas, in states, california, the northeast, because of the fiscal cliff? do you think that's going to show up eventually in the data? >> actually, i think the bigger
it definitely rebounded. >> at the same time, david, some of the cities that had, you know, fair to best during the downturn are now showing some weakness, chicago and new york, the only two cities with negative returns in the month of october. what's going on in those two markets? >> well, i think the first thing to recognize is what you pointed out. they didn't have the incredible boom going on. so they've been a lot more classic. those are markets where i think there are some...
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Dec 19, 2012
12/12
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the cast of new york city ballet's production of the nutcracker at the nasdaq. habitat for humanity doing the honors there. certainly a lot to watch for. the euro is close to 133. 132.9 right now. that's signaling to the markets perhaps a risk on, after a two-month high in stocks yesterday, jim. >> a lot of companies had to caveat their quarters about what the strong dollar has done. we're not going to hear that next year at this time. we may hear that in the first quarter. a lot of companies, it took -- really took the wind out of the sails that you had in the currency problem. that goes away. the quarters are going to look much better. carl, you said 2013 could be different. and that is whae'reg to figure out. different in a lot of ways that seem positive. people confused at home, this is the fiscal cliff, is it the most important issue. how about a deal where you don't have too much belt tightening and you get the dollar going the right way, all this cash. >> a positive sign to that point, jim, is what we're seeing in the bond markets. we're finally seeing wh
the cast of new york city ballet's production of the nutcracker at the nasdaq. habitat for humanity doing the honors there. certainly a lot to watch for. the euro is close to 133. 132.9 right now. that's signaling to the markets perhaps a risk on, after a two-month high in stocks yesterday, jim. >> a lot of companies had to caveat their quarters about what the strong dollar has done. we're not going to hear that next year at this time. we may hear that in the first quarter. a lot of...
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Dec 3, 2012
12/12
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where do you think vegas fits on that map, and what's the trajectory for the city on that front? >> it's the fastest growing part of everything we have been working on. two years ago, the vegas tech start-up scene was virtually nonexistent. and we've had several companies just ones i happen to know of, there's been ten tech start-up companies that relocated from other states to downtown vegas. so, for example, one of the companies is remotive. they make iphone-powered robots and moved to downtown vegas about a year ago, originally three people from seattle. they had considered silicon valley but then we recruited them to downtown vegas and now they're at about 20 people. and recently announced $5 million in funding from sequoia capital. so it's really happening here and it's pretty exciting to be part of it. >> yeah, and the city definitely needs it. that would be great if it could catch fire and sounds like it is. talk to me about retail. how did cybermonday go? how are you feeling about the season at large? there's been some discussion about how good the numbers looked overall
where do you think vegas fits on that map, and what's the trajectory for the city on that front? >> it's the fastest growing part of everything we have been working on. two years ago, the vegas tech start-up scene was virtually nonexistent. and we've had several companies just ones i happen to know of, there's been ten tech start-up companies that relocated from other states to downtown vegas. so, for example, one of the companies is remotive. they make iphone-powered robots and moved to...
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Dec 27, 2012
12/12
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city budge let's constrained and city got to raise money and the state of i will sill in quite a parlance state itself. >> got to get the revenues from some state, guy he is. >>> talk about the weather here, the winter storm working across much of the nation, still causing headaches in the northeast, expected to dump one to two feet of snow in some parts of maine and surrounding states today. the weather channel's eric fisher is live in lewis ton, maine, with the latest. hi, eric. >> good morning, melissa. hi there, every ebb. snow coming down a few hours ago, now ernest across maine that will continue all day long, many states touched by this winter storm, maine will be the last one in the lower 48 this all started back in west texas, a white christmas in amarillo and lubbock, folks doing shoveling here this holiday week, notice the visibility starting to go down, traffic has been light, all of the state offices are close here in maine for today. across all of this state, vermont, new hampshire, new york, dealing with the wintery weather. if you are a traveler, certainly not any good new
city budge let's constrained and city got to raise money and the state of i will sill in quite a parlance state itself. >> got to get the revenues from some state, guy he is. >>> talk about the weather here, the winter storm working across much of the nation, still causing headaches in the northeast, expected to dump one to two feet of snow in some parts of maine and surrounding states today. the weather channel's eric fisher is live in lewis ton, maine, with the latest. hi,...
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Dec 24, 2012
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the fcc says that 30% to 40% of robberies in some of the biggest cities involve cell phones. in washington, d.c., they say it's 38%. in san francisco, police say it's nearly 50%. it's difficult to break out the numbers and break it down by brands, but police have confirmed that the best of apple products is a big business. they call it apple pigging. in new york city in september, the nypd reported theft of apple products was up 40% year over year, and they expect that number to rise over the holiday season. how can shoppers figure out if the devices they're buying are legitimate or stolen? apple phones have serial numbers. those can be traced, of course, if a phone was reported lost or stolen. they'll also be blocked from further use. experts actually say if you're buying used online you should ask for the serial number of the product. david? >> thanks very much, jackie. between hurricane sandy in october and the snowstorms out west over the last few days, people could have had a tough time getting out shopping over the last couple of months. how are retailers faring? well,
the fcc says that 30% to 40% of robberies in some of the biggest cities involve cell phones. in washington, d.c., they say it's 38%. in san francisco, police say it's nearly 50%. it's difficult to break out the numbers and break it down by brands, but police have confirmed that the best of apple products is a big business. they call it apple pigging. in new york city in september, the nypd reported theft of apple products was up 40% year over year, and they expect that number to rise over the...
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Dec 28, 2012
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do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is going to pick up. they're well positioned for that. goldman sachs certainly the leader on the investment banking side. we would put them in a portfolio. you can buy goldman today at a price below what the partners could buy it back when it was a partnership. go with it. >> interesting. provocative prediction. good to see you. happy 2013. >> thank you. >> brad hintz. the post christmas rush for retailers. gift cards, returns, exchanges. jane wells will break it down a little later on and of course we'll get you down to the close in europe about 11 minutes away. drum and flute" n look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!!
do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is going to pick up. they're well positioned for that. goldman sachs certainly the leader on the investment banking side. we would put them in a portfolio. you can buy goldman today at a price below what the partners could buy it back when it was a partnership. go with it....
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Dec 10, 2012
12/12
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> i wanted to update our viewers on shares of hewlett-packard. you may have noticed one point eclipsing up 4.5% today. now taking off some of those gains, but still up almost 3%. a lot of chatter continues to be centered on the idea of potentially breaking the company up. some people would say you certainly do get a fairly big number. let's not forget it's not the hp of packard and hewlett. this argument continues to be out there. and then you'll start to hear rumors about a potential activist. let's not forget they already have an activist on the board of directors, ralph whitworth, owns a stake in the company and a director at this point. while we'll probably continue to hear this, i can tell you at this point that though it wil
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> i wanted to update our viewers on shares of hewlett-packard. you may have noticed one point eclipsing up 4.5% today. now taking off some of those gains, but...